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Goodyear Tire & Rubber Lowers FY18 Segment Operating Income Outlook

While reporting its third-quarter financial results, Goodyear Tire & Rubber Co. (GT) lowered its expectations for 2018 segment operating income to reflect the "increasingly challenging" industry environment.

Goodyear Tire now expects fiscal 2018 segment operating income to exceed $1.3 billion. Earlier, the company projected full-year segment operating income to total between $1.45 billion and $1.5 billion.

The revised outlook reflects the impact of higher raw material costs, which includes the negative impact of transactional currency headwinds, further industry weakness in China and economic volatility in Brazil.

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